New investor looking at Raleigh - Durham - Chapel Hill areas

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New investor looking at Raleigh - Durham - Chapel Hill areas

Parker Stone
Investor · Alexandria, VA · Member since 2017 · 22 posts · 4 votes

Hi all!

As the subject says, I am a new investor looking to invest in the Triangle region of North Carolina. I've been an avid consumer of the BP blog, podcast and forums for some time now and am looking forward to finally taking action and engaging with the community. I was first motivated to learn more about real estate and passive income after seeing a layoff at the company I work for and realizing I don't want to rely solely on Corporate America for a bi-weekly paycheck. Ultimately, I would like to have a portfolio of cash flowing properties that would be able to cover my family's expenses should anything happen to my ability to work. The dream would be to create a real estate company with systems and processes in place so that I could manage it while traveling the world with my brother and sister. 

While I currently reside in New York City, I'm interested in investing in the Triangle region because of it's strong growth, tech-based economy (example of article in the link below) and my brother resides in Raleigh. I recently finished @David Greene's "Long-Distance Real Estate Investing" and am looking forward to using technology to build a great network in the Triangle area!

Looking forward to connecting with fellow investors and professionals to learn more about the Triangle area market!

http://assets1c.milkeninstitute.org/assets/Publica...

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Trexie E.Pro Member
BiggerPockets Support · Davao, Davao del Sur · Member since 2015 · 937 posts · 163 votes
8y

Hello there! @Parker Stone

Welcome aboard! Glad to have you here! Check out the nearby members and network at https://www.biggerpockets.com/meet, it will help you a lot to find partners that can help you out in investing.

BiggerPockets
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  • Trexie E.Pro Member
    BiggerPockets Support · Davao, Davao del Sur · Member since 2015 · 937 posts · 163 votes
    8y

    Hello there! @Parker Stone

    Welcome aboard! Glad to have you here! Check out the nearby members and network at https://www.biggerpockets.com/meet, it will help you a lot to find partners that can help you out in investing.

    BiggerPockets
    2Reply
  • Parker Stone
    OP
    Investor · Alexandria, VA · Member since 2017 · 22 posts · 4 votes
    8y

    Thank you for the tip, @Trexie E.!

    0Reply
  • Christian HansenPro Member
    Rental Property Investor · Cary, NC · Member since 2014 · 120 posts · 89 votes
    8y
    Hi, I’m in down here(RDU area). I agree that it’s a good area for long term investment. If you have any specific questions feel free to reach out.
    1Reply
  • Matt Motil
    Rental Property Investor · Cleveland, OH · Member since 2015 · 1k+ posts · 880 votes
    8y

    Welcome @Parker

    @Parker Stone, sounds like you're on the right track! Good luck in your journey! 

    1Reply
  • Tiffany Alexy
    Real Estate Broker · Durham, NC · Member since 2014 · 236 posts · 168 votes
    8y

    Hey @Parker Stone,

    Welcome! The Triangle is a great area.  It helps that you have family in the area, that is a great base to build from.  I have family in New York - well specifically, a cousin in Brooklyn and a cousin (who is also a real estate agent!) in Great Neck/Long Island area.

    I own 3 rentals currently and am doing the same thing as you, building up the passive income streams so I can finally reach financial independence!

    Good luck with your goals!!

    2Reply
  • Heidi Kenefick
    Rental Property Investor · Hartford, CT · Member since 2017 · 168 posts · 163 votes
    8y
    Parker Stone welcome! I live about 1 hour from Raleigh in Greenville NC. Have you thought about Greenville? I ask because the houses are much cheaper than the triangle, rent is about the same (maybe a little less) and it is the fastest growing city in the state. You may get bigger returns if you check it out. :) just a thought for you to consider!
    1Reply
  • Parker Stone
    OP
    Investor · Alexandria, VA · Member since 2017 · 22 posts · 4 votes
    8y

    Thanks, @Matt Motil. I listened to a few of the podcasts - good stuff!

    0Reply
  • Parker Stone
    OP
    Investor · Alexandria, VA · Member since 2017 · 22 posts · 4 votes
    8y

    Hi @Heidi Kenefick, I didn't realize Greenville was growing so fast. Isn't Cone Health based there? Are you actively investing in the area?

    0Reply
  • Parker Stone
    OP
    Investor · Alexandria, VA · Member since 2017 · 22 posts · 4 votes
    8y

    Appreciate you reaching out, @Tiffany Alexy! That's funny, my office is right next to Great Neck. Best of luck in your pursuit of FI!

    0Reply
  • Greg Fitch
    Rental Property Investor · Chapel Hill, NC · Member since 2017 · 144 posts · 89 votes
    8y

    Hi Parker -

    Welcome to BP! I lived in New York and Long Island for 12 years - what a great experience but happy to come back home to NC about 10 years ago. Nice weather, nice people, nice quality of life.

    That's great you have a sibling in Raleigh; that gives you a useful base from which to explore the Triangle from an investment point of view. I will say Raleigh and Durham asset prices have exploded in recent years - I see multifamily properties listed for double what they sold for two years ago - so while they'll seem inexpensive by NY standards I'm not sure how much more appreciation at least in this economic cycle they've got. Yes you might look at secondary cities near Raleigh as valuations will be better.

    Cone Health is in Greensboro, not Greenville - about an hour from Raleigh but on the other side. Both offer better valuations. 


    Good luck!

    1Reply
  • Arn CenedellaPro Member
    Rental Property Investor · Greenville, SC · Member since 2008 · 786 posts · 1k+ votes
    8y

    Hi Parker

    I believe the Research Triangle would be a good area to invest in.

    I might also suggest another Greenville, the one in South Carolina.

    Rapidly growing secondary city midway between Charlotte and Atlanta.

    Fantastic downtown with major international employers like BMW, Michelin and GE.

    I have two Raleigh residents investing with me because they feel valuations and profit opportunities are better in Greenville SC.

    I suggest you google Greenville SC and consider.

    Arn

    [email protected]650-575-6114
    1Reply
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